Bank of New York Mellon Corp reduced its holdings in Imperial Oil Ltd (NYSEMKT:IMO) (TSE:IMO) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 476,161 shares of the energy company’s stock after selling 56,966 shares during the quarter. Bank of New York Mellon Corp owned about 0.06% of Imperial Oil worth $13,894,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IMO. Wells Fargo & Company MN grew its position in shares of Imperial Oil by 65.2% in the 1st quarter. Wells Fargo & Company MN now owns 79,719 shares of the energy company’s stock worth $2,432,000 after buying an additional 31,474 shares during the last quarter. First Trust Advisors LP grew its position in shares of Imperial Oil by 8.5% in the 1st quarter. First Trust Advisors LP now owns 16,310 shares of the energy company’s stock worth $497,000 after buying an additional 1,273 shares during the last quarter. Comerica Bank grew its position in shares of Imperial Oil by 1.3% in the 1st quarter. Comerica Bank now owns 13,983 shares of the energy company’s stock worth $411,000 after buying an additional 181 shares during the last quarter. World Asset Management Inc grew its position in shares of Imperial Oil by 1.3% in the 1st quarter. World Asset Management Inc now owns 15,175 shares of the energy company’s stock worth $463,000 after buying an additional 193 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Imperial Oil in the 1st quarter worth approximately $3,419,000.

Several research firms recently weighed in on IMO. BidaskClub upgraded Imperial Oil from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Zacks Investment Research upgraded Imperial Oil from a “strong sell” rating to a “hold” rating in a research report on Monday, June 19th. Raymond James Financial, Inc. lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. UBS AG lowered Imperial Oil from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 5th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Imperial Oil in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Imperial Oil has a consensus rating of “Hold” and a consensus target price of $44.88.

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Imperial Oil Ltd (IMO) opened at 31.64 on Friday. The stock has a 50 day moving average price of $29.58 and a 200 day moving average price of $29.53. The stock has a market cap of $26.71 billion, a PE ratio of 12.45 and a beta of 1.14. Imperial Oil Ltd has a 1-year low of $27.59 and a 1-year high of $36.85.

Imperial Oil (NYSEMKT:IMO) (TSE:IMO) last issued its earnings results on Friday, July 28th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.30). The firm had revenue of $7.03 billion during the quarter, compared to analysts’ expectations of $8.40 billion. Imperial Oil had a negative return on equity of 1.23% and a negative net margin of 1.10%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) EPS. On average, analysts predict that Imperial Oil Ltd will post $0.92 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be issued a $0.1279 dividend. This represents a $0.51 annualized dividend and a yield of 1.62%. This is a boost from Imperial Oil’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Wednesday, August 30th. Imperial Oil’s payout ratio is presently 170.37%.

Imperial Oil Profile

Imperial Oil Limited is an integrated oil company. The Company is engaged in all the phases of the petroleum industry in Canada, including exploration for, and production and sale of, crude oil and natural gas. Its operations are conducted in three segments: Upstream, Downstream and Chemical. The Upstream operations include the exploration for, and production of, crude oil, natural gas, synthetic oil and bitumen.

Institutional Ownership by Quarter for Imperial Oil (NYSEMKT:IMO)

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